Seizert Capital Partners LLC Sells 6,027 Shares of Elevance Health, Inc. $ELV

Seizert Capital Partners LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 127,826 shares of the company’s stock after selling 6,027 shares during the period. Elevance Health comprises about 1.8% of Seizert Capital Partners LLC’s portfolio, making the stock its 28th largest holding. Seizert Capital Partners LLC’s holdings in Elevance Health were worth $41,303,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Elevance Health by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares in the last quarter. Sanders Capital LLC boosted its holdings in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Elevance Health by 9.7% in the second quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after acquiring an additional 324,399 shares during the period. Norges Bank bought a new position in Elevance Health in the 2nd quarter worth about $1,148,379,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Elevance Health by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,440,630 shares of the company’s stock valued at $788,616,000 after acquiring an additional 112,020 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ELV shares. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Morgan Stanley cut their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $431.00 target price on shares of Elevance Health in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group began coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $400.85.

Elevance Health Price Performance

ELV opened at $373.46 on Tuesday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a market cap of $83.00 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.51. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $345.53 and a two-hundred day simple moving average of $328.05.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period last year, the company posted $8.37 EPS. Elevance Health’s revenue was up 12.0% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.